HSBC, Britain’s largest bank, will work with Amazon Web Services, BT, and Toshiba to conduct a series of tests to use quantum technologies to secure financial transactions.
HSBC, the world’s eighth-largest bank, will take part in tests of a new quantum network developed by Toshiba and telecommunications giant BT. The aim of the experiment is the possibility of securing financial transactions through quantum technologies.
HSBC will test several quantum network uses, including financial transactions, video calls, and edge computing. In particular, HSBC will test Quantum Key Distribution (QKD) technology, which allows information to be exchanged securely over a distance by simultaneously generating unique encryption keys for both sides of the communication.
QKD technology is expected to provide a high degree of protection for financial transactions, thanks to the impenetrability of quantum data. The essence of the technology is that any attempt by a third party not involved in the transaction to intercept, view or modify the data in the transaction will be instantly detected.
Recall that recently, scientists from the University of Vienna demonstrated the potential of using quantum mechanics to improve the security of transactions with digital assets.
